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The Illusion of Recovery;Debt Dominoes

Discussion in 'Political Discussion' started by Leave No Doubt, Feb 23, 2010.

  1. Leave No Doubt

    Leave No Doubt PatsFans.com Supporter PatsFans.com Supporter

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    Last edited: Feb 23, 2010
  2. ljuneau

    ljuneau Rookie

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  3. Real World

    Real World Moderator Staff Member

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    I read where the delinquincy rate for mortgages in MA is 10%, which is twice the national average. Yikes.
  4. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey

    There's lots of good opinion out there regarding the economy.

    What many here will see no as spring approaches is very simple.

    Jobless benefits which have been keeping some of the economy afloat are now drying out.

    Tax returns will interject for a bit here which will mask the loss of jobless benefits.

    By May/June Americans will get a very accurate gauge of where the economy really is and where it is headed.
    Last edited: Feb 24, 2010
  5. Leave No Doubt

    Leave No Doubt PatsFans.com Supporter PatsFans.com Supporter

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    Thanks for the links lj :) In all honesty it's becoming increasingly hard to know what to do as far as one's economic future goes. Obviously someone's financial planning depends a lot on one's age but even then I'm not sure those old rules apply anymore:confused:

    Should young people believe that all this is part of our usual roller coaster ride, let your 401K ride it out, or is this situation far more serious? As in,is this coaster's heading into an abyss so deep that life will NEVER be the same in our lifetimes or will we recover from this at all. Is real recovery, at least how most of us here define recovery, possible?

    I'm serious; all bs aside, all partisanship bs aside, what do you guys really truly believe is going to happen economically? If you want to answer,be honest and say what you truly think, without bias.

    I'll say what I truly think- deep down I'm concerned about where this economy's headed. Does "ride it out" even apply anymore?
    Last edited: Feb 24, 2010
  6. Holy Diver

    Holy Diver Rookie

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    #80 Jersey

    This is the year most ARM mortgages will come up for adjustment....Get ready...


    Isn't it funny how the "Ownership Society" has created bankruptcy and foreclosures?


    Isn't that HILARIOUS!?
  7. Leave No Doubt

    Leave No Doubt PatsFans.com Supporter PatsFans.com Supporter

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    That's the other thing, when and how did it all really begin? I don't think it's sudden by any means but I think we're in the fast lane, to what I don't know but it's as if we're rounding a final lap. Things are happening fast and for real,are people just riding the wave or are you thinking we're headed for a true collapse?
  8. Real World

    Real World Moderator Staff Member

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    Well, people who shouldn't have owned something, were given the means too. I guess all that "affordable housing" some kept talking about, wasn't so "affordable" afterall. Of course, now I get to pay for their incompetance.
  9. PatriotsReign

    PatriotsReign On the Roster

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    Nice to finally have some other members on board with me LND. I've been saying this for over a year.

    Just like our gov't gave us "The Illusion of Personal Wealth Bubble"...we now see them attempting to give us "the illusion of Recovery"

    Unemployment has NOT declined if you use the U6 definition and there are ZERO signs of recovery on a world-wide economic perspective. That being said, the US economy will never be in recovery until the rest of the world begins to recover.

    I believe we will all hear Obama or congress propose another bank/financial system bailout very soon. Only it will be masked as something to get us "over the final hurdle and into full recovery" when the truth is, banks are once again teetering with the burdens of a commercial real estate meltdown.

  10. patsfan13

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    The gov will be hiring a lot of people for the Census, this wil be touted as a jobs recovery by the administration, these jobs are temporary of course, the ilusion will continue.
  11. Nikolai

    Nikolai Football Atheist PatsFans.com Supporter

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    #54 Jersey

    Another jobless recovery (think 2002-2003). Meanwhile, Armed Forces recruiters lick their chops.

    The longer this thing drags out, the closer we are to watching the Euro become the world's leading note. The damnable thing about it was that this was preventable by the average American citizen, who should have told the banks to shove their junk products starting 10-15 years ago. My wife and I did, but we're still having to pay for the incompetence of others.
  12. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Since Nov the Euro has been weaker than the dollar.


    1.51 EUR/USD to 1.35 EUR/USD
  13. Nikolai

    Nikolai Football Atheist PatsFans.com Supporter

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    #54 Jersey

    The Dollar trend since 2005 has been to have a decreased value against every major currency (EUR, JPY, CNY, etc.) except for the GBP, which has been in relative freefall. The Euro is up and down but has had stronger upward trends in the last five years than the Dollar.
    Last edited: Feb 25, 2010

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